Finastra-LPBank Partnership: Modernising Treasury Management
Collaboration is a fundamental part of the future fintech ecosystem.
By doing so, fintech institutions can combine its wealth of knowledge and technical expertise to catalyse change, expand across global markets and drive digital transformation.
Finastra-LPBank partnership
Two organisations that have recently demonstrated their impressive collaborative attitude are Finastra and LPBank.
The pair have successfully implemented Finastra’s Kondor treasury solution at LPBank. This solution will aim to modernise its treasury management in half a year.
The Kondor solution will improve trade processing, real-time risk management and risk analytics.
Finastra Kondor will allow for financial institutions’ complex treasury solution needs to be met, whilst also catalysing further growth and innovation.
Ho Nam Tien, Standing Deputy Chairman of LPBank says: “The successful deployment of this innovative project is testament to our deep commitment toward digital transformation and creating value for our customers. It also speaks volumes to Finastra’s technological expertise as a partner.
“While we are in the early phase of recognizing the full potential of this investment on our treasury operations, we have already seen steady improvements to trading volumes, transaction quality, and reduced transaction times. LPBank is well positioned to further advance its leadership position in Vietnam."
The partnership
The collaboration between Finastra and LPBank on the implementation of the Kondor treasury solution has helped to modernise LPBank’s treasury management operations in half a year.
As a result of this, LPBank has been able to improve its efficiency by integrating real-time risk coverage, risk analytics and improved trade processing. This also has helped the bank handle complex treasury products in the evolving field.
Finastra Kondor permits banks to support complex options, structured trades and diverse derivatives, as well as increase its volumes of trade in treasury.
The pair of companies were able to execute this partnership seamlessly by adopting a flexible and agile attitude along with LPBank’s existing infrastructure and workflow processes.
Because of this solution, LPBank is now able to manage the evolving expectations of more sophisticated liquidity and treasury products for its clients and support many risk management decisions.
According to Finastra’s website, banks have experienced a “10x increase in treasury transactions” and a “100% increase in the number of trades” due to the Kondor treasury solution.
The success of the projects spotlights Finastra’s intense technological knowledge and LPBank’s commitment to digital transformation.
Richard Zhu, Managing Director, Capital Markets, Asia Pacific, Finastra says: “We are proud to be part of LPBank’s ambitious digitalization and modernisation journey.
"In today's landscape, digital transformation is a necessity for financial institutions hoping to keep pace with the shifting needs of customers and the rising pressures of competition and regulations."
**************
Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024.
**************
FinTech Magazine is a BizClik brand.
